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Race Oncology Ltd. ( (AU:RAC) ) just unveiled an update.
Race Oncology has received a $2.8 million R&D tax refund from the Australian Taxation Office for the financial year 2025, with an additional refund expected in early 2026. This refund is part of the Australian government’s R&D Tax Incentive, which supports research-intensive companies like Race Oncology in their innovation efforts. The funds will be used to accelerate the clinical development of RC220, targeting lung cancer, cardioprotection, and acute myeloid leukemia. This financial boost underscores the national interest in Race’s R&D activities and supports their mission to address significant unmet needs in cancer treatment.
More about Race Oncology Ltd.
Race Oncology is an ASX-listed Phase 3 clinical biopharmaceutical company focused on cancer care. Their lead asset, RCDS1, is a small molecule anticancer agent targeting the MYC cancer growth regulator. Race is advancing RCDS1’s formulation, RC220, through various clinical programs addressing acute myeloid leukemia, non-small cell lung cancer, and solid tumors. The company collaborates with several research institutions and is exploring partnerships to enhance global access to RC220.
Average Trading Volume: 549,434
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$519M
See more data about RAC stock on TipRanks’ Stock Analysis page.